A fine of up to VND 2,000,000,000 for act of making, certifying the falsified dossiers for securities listing in Vietnam

A fine of up to VND 2,000,000,000 for act of making, certifying the falsified dossiers for securities listing in Vietnam (Internet image)

Decree 108/2013/ND-CP stipulates that a fine of between VND 1,800,000,000 and 2,000,000,000 shall be imposed on act of making, certifying the falsified dossiers for securities listing or registration for securities trading. At the same time, act of making, certifying the falsified dossiers for securities listing or registration for securities trading shall also subject to suspension of activities of securities listing or registration for securities trading for duration of 01-03 months

In addition, this Decree also stipulates administrative fines for violations of regulations on securities listing, register for securities trading in Vietnam as follows:

1. A fine of between VND 50,000,000 and 70,000,000 for failing to do procedures for changing registration for securities listing, registration for securities trading or conducting the securities listing, registration for securities trading under additional procedures improperly with deadline as prescribed by law.

2. A fine of between VND 80,000,000 and 120,000,000 shall be imposed on failing to modify, supplement dossiers of registration for securities listing or registration for securities trading upon detecting inaccurate information or omitted important contents required by regulations to be included in these dossiers or when arising important information involving the dossiers already filed.

3. A fine of between VND 300,000,000 and 400.000,000 shall be imposed on act of making, certifying dossiers of registration for securities listing or registration for securities trading containing untrue information or hiding the truth or having been seriously falsified;

More details can be found in Decree 108/2013/ND-CP, which comes into force from November 15, 2013.

Ty Na

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